PROG Holdings, Inc. (NYSE:PRG) Holdings Trimmed by Vulcan Value Partners LLC

Vulcan Value Partners LLC reduced its stake in PROG Holdings, Inc. (NYSE:PRG - Free Report) by 20.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 369,829 shares of the company's stock after selling 93,237 shares during the quarter. Vulcan Value Partners LLC owned about 0.89% of PROG worth $15,629,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in PRG. Summit Securities Group LLC purchased a new position in PROG in the 4th quarter valued at about $38,000. Sterling Capital Management LLC boosted its position in PROG by 765.6% during the fourth quarter. Sterling Capital Management LLC now owns 1,082 shares of the company's stock worth $46,000 after acquiring an additional 957 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in PROG by 141.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,208 shares of the company's stock worth $51,000 after acquiring an additional 707 shares during the period. CIBC Private Wealth Group LLC raised its holdings in PROG by 248.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,370 shares of the company's stock valued at $57,000 after acquiring an additional 977 shares during the last quarter. Finally, New Age Alpha Advisors LLC purchased a new position in shares of PROG during the 4th quarter worth $68,000. Institutional investors and hedge funds own 97.92% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Jefferies Financial Group downgraded PROG from a "buy" rating to a "hold" rating and lowered their price objective for the company from $58.00 to $29.00 in a research report on Wednesday, February 26th. KeyCorp lowered their price target on PROG from $50.00 to $45.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Stephens reiterated an "overweight" rating and set a $60.00 price objective on shares of PROG in a report on Thursday, January 2nd. Finally, Loop Capital dropped their price target on shares of PROG from $45.00 to $40.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, PROG presently has a consensus rating of "Moderate Buy" and an average target price of $44.83.

PROG Trading Up 1.8 %

PRG traded up $0.47 during trading on Tuesday, hitting $26.36. 709,559 shares of the company's stock were exchanged, compared to its average volume of 454,872. The stock has a 50 day moving average price of $26.76 and a 200 day moving average price of $38.29. PROG Holdings, Inc. has a 1 year low of $23.50 and a 1 year high of $50.28. The company has a current ratio of 5.24, a quick ratio of 2.34 and a debt-to-equity ratio of 0.99. The firm has a market cap of $1.08 billion, a P/E ratio of 5.81 and a beta of 1.96.

PROG (NYSE:PRG - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.90 EPS for the quarter, topping analysts' consensus estimates of $0.82 by $0.08. PROG had a return on equity of 24.25% and a net margin of 8.01%. The business had revenue of $684.09 million during the quarter, compared to the consensus estimate of $678.23 million. During the same period last year, the firm earned $0.91 earnings per share. The company's revenue for the quarter was up 6.6% compared to the same quarter last year. As a group, analysts expect that PROG Holdings, Inc. will post 3.45 EPS for the current fiscal year.

PROG Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Thursday, March 13th were given a $0.13 dividend. This is an increase from PROG's previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend was Thursday, March 13th. PROG's dividend payout ratio (DPR) is presently 10.66%.

Insider Activity

In related news, Director Douglas C. Curling bought 10,000 shares of the stock in a transaction on Friday, February 21st. The shares were purchased at an average price of $29.88 per share, with a total value of $298,800.00. Following the purchase, the director now owns 45,913 shares in the company, valued at approximately $1,371,880.44. This represents a 27.85 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Caroline Sio-Chin Sheu purchased 1,650 shares of PROG stock in a transaction dated Wednesday, February 26th. The stock was bought at an average cost of $28.01 per share, with a total value of $46,216.50. Following the completion of the purchase, the director now owns 18,291 shares in the company, valued at approximately $512,330.91. This trade represents a 9.92 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 3.21% of the company's stock.

PROG Profile

PROG Holdings, Inc NYSE: PRG is a financial technology holding company based in Salt Lake City, Utah with three business segments: Progressive Leasing, which offers lease-to-own transactions primarily to credit-challenged consumers through e-commerce and point-of-sale retail partners, via online, mobile, and in-store solutions; Vive Financial, which provides consumers who may not qualify for traditional prime lending with a variety of second-look, revolving credit products through private label and branded credit cards; and Four Technologies, which provides consumers of all credit backgrounds Buy Now, Pay Later (BNPL) options through four interest-free installments via its platform, Four.